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Researchers back Ferris Report on innovation

09 Feb 2018

Researchers at the Business School have endorsed the findings of the recently released Innovation and Science Australia (ISA) report, which warns that the nation must invest more in innovation for the sake of its economic future.

The report, titled Australia 2030: Prosperity through innovation - A plan for Australia to thrive in the global innovation race, indicates that Australian investment in research and development has been falling since the global financial crisis in 2008 and is now well below many comparable countries.

“Innovation should be celebrated and encouraged in Australia, not feared or tip-toed around like some elephant in the room,” said ISA Chair, Bill Ferris.

The report contains 30 recommendations to the federal government that aim to make Australia one of the world’s top tier innovative nations by 2030.

The Business School’s Associate Professor Catherine Welch and Lecturer Maria Rumyantseva have welcomed the report’s sense of urgency and have said that the government needs to take immediate action to ensure that Australian does not slip behind the rest of the developed world.

However, in a commentary on the Australia 2030 report, they also expressed a concern that the government may do nothing with the report.

Read Associate Professor Welch and Lecturer Rumyantseva's article here.

Catherine Welch

Catherine Welch

Maria Rumyantseva

Maria Rumyantseva